Key Takeaways
- A continuing care retirement community (CCRC) and a Life Plan community are the same type of community. They both offer independent living and a continuum of care for residents, should the need arise.
- Carlyle Place offers a vibrant, active lifestyle with independent living options ranging from apartments to garden homes, as well as a full continuum of care, including personal care, memory care, and skilled nursing.
- As Central Georgia’s only CARF-accredited Life Plan Community, Carlyle Place provides residents with guaranteed healthcare at significantly reduced rates compared to market prices.
- A typical day at Carlyle Place balances independence with community engagement through resident-led activities, chef-prepared dining, wellness programs, and social events.
- Life Plan Communities differ from other senior living models by offering a comprehensive “aging in place” solution with predictable costs and guaranteed access to higher levels of care.
- Residents maintain autonomy while enjoying freedom from home maintenance, cooking, and healthcare worries—creating a lifestyle focused on thriving rather than just living.
Considering a move to a Life Plan Community—also known as a Continuing Care Retirement Community (CCRC)—in Georgia? Balancing the right cultural and financial fit can feel daunting, but it doesn’t have to. The right community will provide expertise and information to help you plan a bright future. The first step to a confident decision is understanding the real costs of independent living and what’s included. Having knowledge about the entrance fee, monthly costs, options for refundability, and other expenses for each community you’re exploring means you can compare all aspects and plan wisely.
In this guide, you’ll find straightforward explanations of independent living costs and how to assess the value and affordability objectively—so you can make your next move with clarity and peace of mind.
What is a Life Plan Community Entrance Fee?
An entrance fee is a one-time payment made when you move into a Life Plan Community or CCRC. This upfront investment serves several important purposes. It:
- Secures your residence and community membership
- Helps maintain the community’s financial stability
- Pre-pays for future healthcare services, depending on the contract type
- Contributes to community improvements and amenities
At Georgia Life Plan Communities like Carlyle Place, entrance fees typically range from $100,000 to over $800,000 depending on size, location, contract type and refundability options. It’s common to see higher entrance fees associated with premium features, such as:
- Larger apartments and garden homes
- Premium views or locations
- Type A (Life Care) contracts
- Higher refund percentages
Is the Entrance Fee Refundable?
Most Georgia Life Plan Communities and CCRCs, including Carlyle Place, offer various refundability options for entrance fees, such as:
- Traditional/Declining Refund Plan: The entrance fee gradually amortizes over time (typically 1-2% per month), eventually reaching 0% refundability.
- 50% Refundable Plan: After the initial amortization period, 50% of your entrance fee remains refundable to you or your estate.
- 90% Refundable Plan: After the initial amortization period, 90% of your entrance fee remains refundable to you or your estate.
While higher refundability percentages require larger initial investments, they provide greater estate protection and potential return of capital to your beneficiaries. At Carlyle Place, we also offer a special 5% entrance fee discount for veterans.
Monthly Service Fees: What’s Usually Included?
Monthly service fees cover day-to-day living expenses and community operations. At Georgia Life Plan Communities or CCRCs, these monthly fees typically range from $2,500 to $6,000 for independent living.
Monthly service fees generally include:
- Dining plan: Communities often provide more than one type of plan
- Utilities: Often include cable, internet, water, and sometimes electricity
- Interior and exterior maintenance
- Weekly housekeeping
- Scheduled transportation: May include regular shopping and community events
- Wellness programs and fitness center access
- Social activities and events
- 24-hour security and emergency response systems
Use the list above as a reference when researching a community to ensure you have a comprehensive understanding. At Carlyle Place, our transparent monthly fees ensure you can budget confidently without worrying about unexpected costs for home maintenance or rising utility bills.
Waiting List Fees: Securing Your Future Home
Many popular CCRCs in Georgia maintain waiting lists for prospective residents. By joining a waitlist, you give yourself the option to enjoy the freedom that comes with moving to a senior living community when you are ready. This secures your place in line for high-demand communities. The waitlist fee is often a small investment for the planning value it brings and:
- Is often fully applicable toward your entrance fee when you move in
- May be partially refundable if you decide not to move to the community (policies vary by community)
- Provides access to community events and amenities before becoming a resident
- Allows you to “try before you buy” through guest stays and dining experiences
If you are 68 or older, you can give yourself the gift of options by joining a waitlist in a community that is the right fit for you. Communities typically charge a fee ranging from $1,000 to $5,000 or higher to join a waitlist. Some communities offer tiered waitlist fees associated with various benefits or priorities so be sure to understand all the options available.
Independent Living Costs Can Also Provide Protection Against Future Healthcare Costs
What truly sets Life Plan Communities and CCRCs apart from other senior living options is the long-term healthcare value they provide. With a Type A (Life Care) contract at Carlyle Place, residents receive guaranteed access to assisted living, memory care, and skilled nursing at significantly reduced rates.
Consider these average monthly market rates in Georgia:
- Assisted Living: $4,800 – $6,000
- Memory Care: $6,500 – $8,500
- Skilled Nursing: $9,500 – $10,000
To put this in perspective, Life Care residents at Carlyle Place typically pay a fraction of the monthly cost for these same services—a potential savings of up to $8,000 per month. Over a typical care period, this can translate into substantial savings.
Comparing Costs: Life Plan Communities vs. Aging in Place
When evaluating the financial aspects of a Life Plan Community, it’s important to compare the costs to your current living expenses. Many prospective residents are surprised to find that when they account for all expenses—mortgage or rent, property taxes, utilities, home maintenance, landscaping, housekeeping, meals, entertainment, and potential future care costs—a Life Plan Community can be comparable or even more affordable.
At Carlyle Place, we offer a financial comparison worksheet to help you understand how independent living costs align with your current expenses and future needs.
Financing Options for Life Plan Community Entrance Fees
Several financing options can help make a Life Plan Community more accessible:
- Home equity: The most common approach (nationally) is for residents to use proceeds from the sale of their home
- Bridge loans: Specialized loans designed to cover entrance fees until the sale of a home is finalized
- Life insurance conversion: Some policies can be converted to help pay for long-term care
- Veterans’ benefits: VA Aid and Attendance may help offset costs for eligible veterans
- Long-term care insurance: Some policies can help cover monthly fees if care is needed
At Carlyle Place, our financial counselors can help you explore these options and develop a personalized plan.
Taking the Next Step: Financial Qualification
Most Life Plan Communities have financial qualification guidelines to ensure residents can comfortably afford both entrance fees and monthly costs for the long term. Many communities usually look for:
- Assets: 2 to 3 times the entrance fee
- Income: 1.5 to 2 times the monthly service fee
- Long-term financial stability: demonstrated resources that give you—and the community—the assurance of security, predictability, and peace of mind for the future
Our team conducts a thorough but respectful financial review process to ensure our community is a good match for your resources and future needs.
Frequently Asked Questions
How do Life Plan Community costs in Georgia compare to those in other states?
Georgia typically offers more affordable Life Plan Community options than northeastern states and Florida. While entrance fees and monthly costs vary widely, Georgia communities generally provide excellent value due to the state’s lower cost of living, favorable tax treatment for seniors, and competitive healthcare market. Carlyle Place offers exceptional value as one of only two CARF-accredited Life Plan Communities in the state.
How do independent living costs in Georgia compare to staying in my current home?
Many people are surprised to learn that independent living costs in Georgia can be comparable or even lower than living at home, especially when factoring in mortgage, insurance, utilities, maintenance, property taxes, meal costs, and amenities. Download our worksheet to compare your current monthly spending to what’s included at an independent living community—it’s a real eye-opener for many early-stage shoppers.
What makes a retirement community in Georgia truly affordable?
Affordable retirement communities in Georgia usually offer bundled pricing and predictable monthly fees, clear contract options, and inclusive services such as dining, housekeeping, fitness, and transportation. Ensure you have the financial transparency you need to make an informed decision about what is affordable and within your budget.
Are there tax or financial benefits to choosing an independent living community in Georgia?
Yes. Many independent living communities in Georgia, particularly those with Life Care contracts, offer potential tax benefits. Consult your tax advisor or Life Plan Advisor to learn how to maximize these advantages while comparing long-term costs and value.
What should I ask when researching independent living costs in Georgia?
Ask for a transparent summary of entrance fees, monthly fees, what’s included, what could cost extra, and how future care and healthcare needs are handled.
What happens to my entrance fee if I need to move to a higher level of care?
At Carlyle Place, your entrance fee secures your place in the community regardless of which level of care you require. If you move from independent living to assisted living, memory care, or skilled nursing, your entrance fee status remains unchanged. Your monthly fee will adjust according to your contract type, but Type A (Life Care) contracts provide significant protection against increased costs.
Taking the Next Step
Top senior living communities are in high demand, so now is the time to start planning. If you’re considering your options and the various contract types, we recommend consulting with your financial advisor and family members. The more information you have the better. Visit Understanding CCRC Contracts, Costs & Care to learn more about important financial considerations.
In addition to understanding the contract options of any community you’re considering, it’s also important to know the type of lifestyle they offer. Discover how communities promote active, engaging lifestyles by reading Discover Retirement Living.
Our team at Carlyle Place is also available to provide detailed information to help you understand which contract best suits your needs. Contact our Life Plan Advisors at 478-707-0871 to schedule a personal tour and consultation.
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